PP of 10M shares @ $1.50 closed with over-allotment of 1.5M shares. Insiders participated in offering. Company is trading at deep discount to $9 ipo price. Additional capital raised in the offering alleviates working capital concerns that auditor raised at IPO that tanked the price.
Stock trades thin. Looking at a short term swing towards the 50MA.
Extraction company in Alberta, Canada focused on Cannabis extraction using their patented microwave extraction technique. Facility is operational, have dealer license from Health Canada. Waiting for the approval of their sales license. Huge potential IMO.
Very few catalysts. Current federal government unfriendly to private sector and have recently announced plans for additional taxes on cannabis production revenues. Provinces are also piling on additional taxes of their own. Regulators seem focused on tax grab as provincial and federal governments face mounting public criticism of large accumulation of debt....